Qatar-based Doha Bank said it completed last week a $500 million 5-year senior unsecured bond at a yield of 2.431 percent per annum, which is equivalent to a credit spread of 150 basis points over 5-year mid-swap rate.
The transaction was executed under the bank’s $2 billion Euro Medium Term Note (EMTN) Issuance Program which is listed on London Stock Exchange, the lender said in a bourse filing Sunday.
Investor demand was strong and the orderbook peaked at $1.1 billion, representing slightly more than 2 times oversubscription. The investor base was diversified geographically with, 48 percent of the bond issuance being allocated to the United Kingdom, 35 percent to the Middle East, 13 percent to Europe, and 4 percent to Asia.
The transaction was led by ING as sole global coordinator and joint lead manager and Barclays, Credit Suisse, Deutsche Bank, J.P. Morgan, Mizuho Securities, MUFG and QNB Capital as joint lead managers.
(Writing by Brinda Darasha; editing by Daniel Luiz)
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